I need to get this gobbledy gook out of my gray matter and on to yours for insightful comments. So much to take in in this changing world in which we live (how’s that for four “ins” in one sentence?).
1. Florida recently passed a law that requires mandatory drug testing for welfare recipients. Would that be a liberal or conservative approach to ensuring taxpayer dollars are being put to appropriate use and that people getting aid from states are drug free? Who cares? In this country today (U.S.) everyone is labeled for their stance on one side of the aisle or another offshoot. Can we please begin being logical instead of political?
2. Prices are skyrocketing for durable goods and consumables. I’ve begun my own cost consciousness in the area of foodstuffs. I’m speaking with moms in the dairy section as I see them buying the store brand of yogurt, for example. When she tells me her kids snarf it up, I put back the more pricey Dannon and Yoplait brands and opt for the Kroger brand. I’ve already made the switch to Kroger bagels — six for $1.89 versus the Thomas or Sara Lee brands — 6 for $3.98. Really? My kid can eat Kroger bagels.
3. Warren Buffett recently bailed out (if that’s possible) Bank of America with a major cash infusion to the tune of $5 billion. Is he aware of something we’re not? Should investors flock to the big banks that are drowning in mortgage crises, etc., and buy their stock? What does Buffett, head of Berkshire Hathaway, know as hit sits on top of the world with boatloads of cash?
4. My kidlet just put $100 cash into her savings account, and then I got the bank statement. She’s collecting .01 percent on that money. It’s not even worth it, but where else should her money be saved? Where should all of our savings be saved? It’s a terrible conundrum; I’ve decided to reduce debt rather than sock money into my portfolio this year. Let the market play with what it already has of mine, and I’ll be saving money by reducing the inexcusable finance charges on credit.
5. As China’s economy becomes more prosperous and its citizens become more oriented to material goods (and it’s happening), my opinion is that U.S. business will begin to pay more money to produce outsourced goods manufactured in China. When that happens, the economies of scale will not be as profitable. U.S. companies will want to manufacture again at home, but guess what? They can’t! Our manufacturing infrastructure is gone — outsourced and off shored. Can the U.S. ramp up again to be “made in America?”
6. Remember that blog post I wrote last week about buying a vacuum cleaner? I did a social media search for manufacturers of sweepers and could only find Miele USA, a German manufacturer, on Twitter. In the comments section, I “took heat” from two independent resellers in local markets, and one suggested I buy local and support family-owned businesses. Someone on Facebook also suggested that. So, I went to the local indie reseller in the hopes of buying that Miele brand I’d never heard of. Instead, I was sold a Riccar — a U.S.-manufactured top-of-the-line vacuum no one has ever heard of. There is no advertising, social media, or marketing campaign to push the Riccar brand. It’s strictly sold by independent retailers, and “the money is spent on the product.” The salesman told me he services Dyson the most (every day), and Miele is not as strong in quality as they used to be because they off-shored manufacturing.
7. In this week’s BusinessWeek (I know, it’s Bloomberg BusinessWeek), there is a graph “Graphing the Recession’s Impact” suggesting the “latest recession resulted in more lost jobs and output than any recession in the last 50 years…no other post-war recession has been as severe.” I’m not an economist, but can we please stop comparing the 2010 decade to 50 years ago, or even 10 years ago? We’re now in a global economy; no one has seen this type of teeter-tauter on the world stage ever — so, can we please start graphing this bunk based on today instead of yesterday?
8. Also in BusinessWeek this week, a frightening headline, “The Slow Disappearance of the American Working Man.” Apparently, only 81 percent of men ages 25-54-years-old held jobs in July 2011. Ouch. Could part of this slide be affected by #5 here?
9. And, lastly, we’ve seen the end of an era. I commend, applaud, admire, and wish peace upon Steve Jobs — the man who brought Apple into the limelight among the world’s consumers. Congratulations, Mr. Jobs; you are a revered and respected innovator. Thank you.
Whew…what musings are clogging up your brain cells? Please share and comment to any of the above!
(Image: MistyWisp.com)
Thanks for your great insights. I am a 26-year-old working-class young man who is too qualified for his current job but still grateful to be working. I am tens of thousands of dollars in debt for degrees I’m not currently using and all I can think of is that I should start working towards a PhD because, maybe (just maybe) things will get better… Anyway, my concerns about the economy mirror yours and I really wish that there was a little less focus on the future (and past) and more emphasis placed on the present.
So wonderful to see you here, and your plight is horrible. There’s never been a more frightening time for young people to try to find their way forward. The student loan debt has got to be a load on your psyche, and you’re not alone. Do you think others are thinking education is the holy grail to keep them from the job market, yet rack up debt for degrees unusable and making you overqualified?
I encourage you to keep the pipeline open via LinkedIn and social networking; we all know you don’t get a job cold — it comes from whom you know.
Best of luck in your future (our future!) and thanks for coming here!!
A lot on your mind, my dear! I’m thinking about a lot of the same things. Jobs, global economy, prices of food, etc. It’s stuff everyone should be thinking about – you can’t escape it.
Feels like a black cloud hanging over my head, really, B.
Feels like a black cloud hanging over my head, really, B.
I definitely relate to this post, my friend! I switched from buying Organic milk for my kids all the time to only when it’s on sale; I buy the store brands for certain items (pastas, for example) and reserve the bucks for name brands where it matters (Dawn dish detergent – avoid the store brand!). I followed that Warren Buffet story (posted a link on my FB page) and wondered the same thing. The man is smart. He came up with the investment idea while in the bath tub! So, I’m not the only one who has great ideas while doing mundane tasks…but, to the point, it’s a HUGE stamp of approval for a bank who was going to lay off over 6K people in the coming weeks. I don’t know if the lay offs are on hold, but I feel better – they’re my bank. 🙂
Re where to put the kidlet’s savings, switch her to a money market account; it usually gets about 5-6% ROI; that’s not huge, but it’s better than the 1% she’s currently getting.
I may just do that…can’t see her taking the $ out of the bank any time soon. Thanks for the tip. What detergent do you use for clothes? Not sure I should switch from Tide…! I love this stuff.
I’m not as picky on the Tide, but like @47d58be98d1441a276245024c9457dbf:disqus I insist on Dawn for the dishes. #littlethings
I would kill for a box of Tide. KILL, I say! KILL!
Another thing I’d kill for is Dr. Bronner’s Peppermint Liquid Soap. The first person who sends me a gallon of it, gets my undying love. UNDYING LOVE – do you hear!
I like Palmolive. The American version. The European version is watered down crap.
Dr. Bronner’s headquarters is located about 1/2 mile from my house! I pass it almost every day.
Marianne, say it isn’t so! Be still my beating heart!
Never heard of Dr. Bonner’s, maybe @marianneworley:disqus can hook you up. Think I’ve been on the budget stuff so long, I don’t notice. BTW Target has gotten good, their lavender-scented fabric softener is pretty darn close to Downy.
Dr. Bronner’s products are very budget-friendly–simple with no fancy packaging. They usually don’t get prime spots on the shelves at the drugstore. Although the products are very popular here (being down the street), you’ll only find them on the bottom shelf, usually with the store-brand stuff.
Huh, I’ll have to BOLO. I know I’ve used No Ad sunscreen for years, works just fine when I can’t find the other brands on sale.
Hey, Stan, why do you live in Hungary? Or is it Botswana?
Romania. But there’s more than a few expats convinced that Romania is actually an extension of Africa. [grin]
Oh, Stan, I forgot. None of us can send liquid gel, albeit it dishwashing soap, abroad. We’ll get arrested. That. Is. All.
Bummer!
When my Palmolive runs out, I’ll switch to Dawn. Apparently, it cuts grease, except in the Romania where Stan lives. Stan, do you live in Romania?
OK, I’ve taken all day to think and now I’m back to give my honest opinion. I am very concerned about the economy, especially the unemployment situation, since technically, I’m only partially employed. I cut way back on my expenses as soon as I was laid off. I’m scared that we won’t be able to get back the business glory we once had in this country, especially when innovative leaders like Steve Jobs retire. (I remember the day when my Dad brought home that very first Mac.) We need to put more emphasis on educating for innovation.
PS – Sounds like there’s an opportunity for managing social media for the vacuum manufacturers!
Over at Gini’s house yesterday, she said it was “our problem.” All this mess. When the Pareto Principle is at work, however, I can’t see 20% of us fixing the U.S. Marianne. It’s a daunting task; while some of us may be doing our best, it’s a daunting task.
Marianne is right on about approaching your vacuum cleaner maker about an opportunity to show them the value of doing social media. It could be a golden opportunity. Reading her comments across a lot of blog posts here and there, I feel that Marianne has uncommonly good sense about business.
China has something that no one else does. Ok, India has it too. Seemingly inexhaustible, low-cost labor. That’s one way to look at it. You could also look at it as exploitation. Things would have to be pretty bad for Americans or Europeans to give up Western conceits about human rights and fair labor practice. It would have to be so bad that the average income of a middle class, college-educated American worker falls to $18,000 year.
I fear, however, we are headed in that direction. Faster than you or I could believe – even when we stretch our imagination.
Population control is one grim solution considered by the monsters at the top. But short of natural disasters that can effect large scale population reductions in the near future, even the monsters at the top don’t know how to make it happen (population reduction) without the consequent witch hunts that will unloose. Scapegoats seem easy enough to sacrifice to the angry crowds- but what if the truth outs somehow? Wikileaks, for example.
Drug testing of welfare recipients could be a testing of the waters. Take it two steps down the road and maybe you won’t get welfare unless you have a college education. Hold on to your diploma! Another two steps and maybe you won’t get welfare unless you were employed within the last 12 months.
Steve who? [grin]
I could go on and on but I think I’ve gone past my five minutes of sharing.
Hope you’ll invite me back.
Recently on my blog: The Economics of Friendship. And Other Social Media DOHs! https://wp.me/pbg0R-oU
OK, already. I’m switching to Lifefyre. And, your insight is spot on, Stan. Scarey/scary or Rocky/Rockey but spot on. Of course, you come back now, hear?
1. It is politics. Drug abuse is a disease and therefore healthcare.. and therefore political. It’ll drive you crazy, chasing such two-tailed dogs in circles. I watch TV instead.
2. I’ve been on budget for years: coupons, sales, don’t think I’ve met a clearance rack I didn’t like.
3. Also read his op ed – and replies – that suggest he bail out the govt too.
4. Reducing debt is a good idea.. as is having kids learn value of money, saving and planning. (Not a mother but lessons I wish I’d have learned better, had I any money.)
5. See #1 – politics b/c then you get into economies of scale, living wages, costs of living vary wildly. See also the 25% more you’d have to pay for your Apple goodies to be made here (depending on whom you ask). China, it’s the nouveau riche thing.. seen it in other developing countries, esp. the birth of classes. Back to politics and I’ll shut it now.
6. But the ‘heat’ you took – would any of those local resellers have been on your radar, would the ‘heat givers’ have even mentioned it had you NOT been ‘social’ about your search for a vacuum? As for buying local – I am all for that but there’s the cost factor; I can often order printing, signage, all sorts of products – often getting the exact same brands – online, easier and for less money. What are those local sellers doing to earn and keep your business?
7. “We” are in a global economy, yes. But you and I aren’t or at least.. I ain’t and most of the people I know aren’t. I know if a dog trees a cat in a condo in Shanghai … blah blah, but I don’t always feel it. Even if they work for a corp., most people I know – it’s local business and ‘relative’ to them (see the ‘heat’ you got) and the forces that drive global business barely touch them (perception wise) until they think of their credit rates, etc. Reminder: we are not ‘normal’ people; I know successful professionals in many SMB fields who barely know how to run PowerPoint, unzip a compressed folder, etc. Just sayin.
8. Quit making me talk, think politics.
9. I’m kinda over the premature eulogizing; I get it.. not knocking you or any of the other good posts I’ve read, just you know.
10. Please don’t do a brain dump again, it’s hard to think so much. (And you expected that yesterday, like a Monday even?! 😉 FWIW.
Oh, man. You took my bait in spades. Yowza. Yep, you needed to meander, too, and I hope it was therapeutic for you, as well! Glad to see I’m NOT alone in this zany mess. Heh.
No I didn’t need this.. just got sucked in. 😉 Trust me, my meanderings would be quite different, possibly include a 2,348 word diatribe on WTH is going wrong with True Blood this season. (Easy answer: everything.)